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☆ Time to buy the tech rally? Wall Street pros weigh in with their top stock picks
▼ + stars: | 2023-02-06 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Investors are flocking back into tech, after shunning the sector for the better part of 2022 amid broad risk-off sentiment. The tech-heavy Nasdaq Composite has been the best-performing Wall Street index in 2023, having gained about 15.6% since the start of the year. This could be the rebound," Wang told CNBC's "Street Signs Asia" on Thursday. " Some 87% of analysts covering the stock rate it a "buy," according to FactSet data, and give it average upside of 10.3%. Christopher Crawford, managing partner at Crawford Fund Management, told CNBC's "Street Signs Asia" on Tuesday that his firm is overweight tech "for the first time in our 10-year history."

☆ Goldman Sachs names tech stocks with a 'strong runway' for growth — giving one upside of nearly 70%
▼ + stars: | 2023-01-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

One corner of tech, software, might be seeing "limited appetite" from the market, according to Goldman Sachs. Goldman analysts forecast in a Jan. 23 note that the earnings per share (EPS) growth of software stocks may outpace the broader S & P 500 index this year. It gave Datadog a "buy" rating and a price target of $128, or an upside of nearly 70%. Software stocks were an investor favorite during the pandemic, but their popularity waned as economies reopened. Nevertheless, the tech sub-sector remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence.

☆ Shopify laid off 2 engineering VPs earlier in January as fears of more layoffs circulate
▼ + stars: | 2023-01-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify laid off at least two engineering vice presidents earlier in January. Shopify laid off at least two high-ranking engineering leaders this month, according to people familiar with the matter. The two employees were VP of Infrastructure Mike Lents and VP of Engineering Ravi Byakod. A Shopify spokesperson confirmed the departures. Shopify laid off about 10% of its workforce, which included more than 1,000 people, in July 2022.

☆ ServiceNow CEO discusses why the stock is lower despite better-than-expected fourth-quarter
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailServiceNow CEO discusses why the stock is lower despite better-than-expected fourth-quarterServiceNow CEO Bill McDermott joins 'Squawk on the Street' to discuss the company's quarterly earnings results, what investors are misunderstanding about the business and more.

Amazon.com Inc (AMZN.O), Salesforce Inc (CRM.N) and ServiceNow Inc (NOW.N), which have large cloud businesses, fell about 1% each. The S&P 500 technology index (.SPLRCT) shed 1.3%. Other major growth stocks, including Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O) and Tesla Inc (TSLA.O), also dropped between 0.4% and 3%. News Corp (NWSA.O) jumped 6.1%, leading gains on the S&P 500, after Rupert Murdoch withdrew a proposal to reunite News Corp and Fox Corp. The S&P index recorded two new 52-week highs and one new low, while the Nasdaq recorded 45 new highs and 25 new lows.

☆ Stocks making the biggest moves after hours: Tesla, Chevron, ServiceNow, Levi Strauss, IBM and more
▼ + stars: | 2023-01-25 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Tesla — Shares rose 0.4% in volatile trading after the electric-vehicle maker reported earnings and revenue for the fourth quarter that beat analyst expectations. Chevron — Shares advanced 2.7% after the oil company announced a $75 billion stock repurchasing program. Levi Strauss — The denim company jumped 7% after its earnings and revenue for the fourth quarter came in above expectations. International Business Machines — IBM beat quarterly earnings and revenue forecasts, but the stock fell more than 2%. Analysts polled by Refinitiv expected earnings of 46 cents per share on revenue of $3.72 billion.

☆ Morning bid: Cloudy outlook
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +4 min

And deep in the weeds of the fourth-quarter corporate earnings season, Microsoft's (MSFT.O) overnight rollercoaster probably defines the uncertainty. Microsoft stock surged almost 5% in after-hours trading on Tuesday after its bottom line beat the Street consensus. The mixed earnings picture dampened early week enthusiasm surrounding tech stocks and chipmakers. The chance it may force the Reserve Bank of Australia to lift interest rates again boosted the Aussie dollar. Key developments that may provide direction to U.S. markets later on Wednesday:* Bank of Canada policy decision.

Shares of Microsoft (MSFT.O) fell 3.9% after it warned that growth in its lucrative cloud business could stall, while its PC unit continued to struggle. The S&P 500 technology index (.SPLRCT) shed 2.1% to lead declines among the 11 major sector indexes. Amazon.com Inc (AMZN.O), Salesforce Inc (CRM.N) and ServiceNow Inc (NOW.N), which have substantial cloud businesses, fell between 2.5% and 4.5%. Other major growth stocks, including Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O) and Tesla Inc (TSLA.O), also dropped between 1.5% and 3.0%. The S&P index recorded two new 52-week highs and one new low, while the Nasdaq recorded 29 new highs and 16 new lows.

☆ Cyber Startup Snyk Raises $25 Million From ServiceNow
▼ + stars: | 2023-01-24 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

Cybersecurity company Snyk Ltd. announced on Tuesday a $25 million investment from enterprise software maker ServiceNow Inc. The Boston-based startup also announced an integration with ServiceNow that aims to provide cybersecurity and information-technology executives a view of potential security vulnerabilities originating from open-source code. “Security is a team issue that requires developers, security and IT professionals to work together,” Mr. Bedi said. “Vendors are starting to talk with each other more often and being able to exchange data,” Mr. Horvath said. The eight-year-old startup cut 14% of its workforce last year and now has over 1,000 employees, according to Mr. McKay.

☆ Jim Cramer says these 6 ‘positives’ could help lift stocks during earnings season
▼ + stars: | 2023-01-23 | by ( Krystal Hur | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday said that several elements could help propel stocks higher, even during what could be an ugly earnings season. Tuesday kicks off a new earnings season featuring some of the biggest companies in technology, retail and consumer goods. Here are the six factors that could help stocks as companies report earnings, according to Cramer:More firms are implementing layoffs. Companies including Microsoft Salesforce Wayfair The U.S. dollar and interest rates peaked last fall. Barclays on Monday upgraded Advanced Micro Devices QualcommCramer cautioned that while earnings season may still not be smooth sailing, any dips in stock price aren't necessarily unwelcome.

☆ Wall Street likes software stocks for the long term. Here are top picks from Goldman, Citi and more
▼ + stars: | 2023-01-23 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Citi is also sounding a cautious tone on the sector, calling 2023 a "year of dichotomy in software." Stock picks CNBC Pro had a look at Wall Street research to find the banks' top stock picks to play the software sector. The bank said the company's already "healthy" operating margins could grow about 20%. Goldman also likes tax technology software firm Vertex for its potential to "drive higher cloud margins over time." German software firm SAP is one of Bank of America 's top picks in European software.

☆ Six stocks Goldman Sachs likes ahead of earnings
▼ + stars: | 2023-01-21 | by ( Alex Harring | ) www.cnbc.com time to read: +7 min

Goldman Sachs' analysts have stocks they are confident about going into a new earnings season. The stocks we found are Amazon , ServiceNow , Colgate-Palmolive , Boeing , Microsoft and Cleveland-Cliffs . Colgate-Palmolive Analyst Jason English raised estimates ahead of Colgate-Palmolive's Jan. 27 earnings as headwinds from foreign exchange turn in to tailwinds. While English said the uncertain global environment could hurt Colgate's business, he still expects the toothpaste and soap maker to meet Goldman's 9% per-share earnings growth forecast for the year. Specifically, we are now forecasting AWS growth to decelerate to +21% YoY (vs. +27.5% YoY in Q3'22) with more subdued growth expectations in 2023.

☆ Get ready for a deluge of data next week that will shape the Fed's next moves
▼ + stars: | 2023-01-21 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the portfolio, we'll get the latest earnings from Danaher (DHR), Halliburton (HAL), and Johnson & Johnson (JNJ) on Tuesday before the opening bell. While the results will be important as always, we are most interested in the earnings call with analysts and investors. Housing Starts fell 1.4% in December to a seasonally adjusted annual rate of 1.38 million, slightly above the 1.36 million expected. Building permits dropped 1.6% in December to a seasonally adjusted annual rate of 1.33 million, below expectations of 1.37 million. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ This week's best performers include Tesla and this bank stock
▼ + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Financial stocks and some beaten-up technology stocks staged a rally this week even as the major averages headed for a week of losses. Financial stocks were a major bright spot in the market this week, with SVB Financial Group reigning as the top performer. About half of Wall Street analysts say shares are a buy, although the consensus price target suggests limited upside for shares near term. That included shares of Signature Bank and M & T Bank, which rose 4.8% and 4.5%, respectively, after posting earnings results. The average price target suggest shares stand to gain nearly 64% after they shed 65% in 2022.

☆ ServiceNow remains customer favorite for IT spending, says Mizuho's Gregg Moskowitz
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailServiceNow remains customer favorite for IT spending, says Mizuho's Gregg MoskowitzMizuho's Gregg Moskowitz joins 'Closing Bell Overtime' to discuss distinguishing priorities for software vendors, challenged IT budges in 2023, and long-term software opportunities.

☆ These companies reporting next week have a history of beating analysts' estimates
▼ + stars: | 2023-01-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors navigating a tough earnings season in the week ahead can stick to several stocks with a history of beating earnings expectations, according to Bespoke Investment Group. Of the 56 S & P 500 companies that have reported so far, about 69% have surprised to the upside, while 31% missed expectations, according to FactSet data. cookie maker posted positive earnings per share surprises 83% of the time out of 41 prior reports, and positive sales surprises 56% of the time. Meanwhile, computer peripherals maker Logitech has surpassed earnings expectations 75% of the time, and sales expectations 67% of the time, in 69 prior reports. Logitech has raised guidance just 1% of the time, however.

☆ Cramer’s week ahead: 'Be on your toes’ this earnings period
▼ + stars: | 2023-01-20 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Tuesday: General Electric, 3M, Union Pacific, MicrosoftGeneral ElectricQ4 2022 earnings release at 6:30 a.m. 3MQ4 2022 earnings release at 6:30 a.m. Wednesday: Boeing, IBM, ServiceNowBoeingQ4 2022 earnings release at 7:30 a.m. IBMQ4 2022 earnings release at 4:08 p.m. Friday: American ExpressQ4 2022 earnings release at 7 a.m.

☆ Bank of America says top pick ServiceNow could see 'best-in-class growth'
▼ + stars: | 2023-01-19 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Buy ServiceNow as the IT company outperforms peers, according to Bank of America. Analyst Brad Sills maintained a buy rating on ServiceNow, and called it a top pick, following checks with nearly a dozen of the software company's partners that suggested "healthy, sustained demand." ServiceNow shares are up more than 7% this year, after falling roughly 40% the year prior. ServiceNow CEO Bill McDermott made positive comments Wednesday on CNBC, saying there's "not a chance" for a recession in IT spending. Meanwhile, the analyst said he expects ServiceNow will lead the digital transformation for back office workflow automation, as it grows in the next several years.

☆ Here are Thursday's biggest analyst calls: Netflix, Meta, Apple, Tesla, Charles Schwab, Roblox, Amazon & more
▼ + stars: | 2023-01-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Bank of America downgrades Charles Schwab to underperform from buy Bank of America said in its double downgrade of Schwab that the Fed will stop hiking this summer, "removing a powerful near-term profit driver." Wells Fargo names Meta, Amazon and Alphabet top 2023 picks Wells says Meta, Amazon and Alphabet have "solid fundamentals" and should outperform in 2023. Deutsche Bank reiterates Tesla as buy Deutsche said the automaker could be a top performer in 2023. JPMorgan names Meta a top pick into earnings JPMorgan said Meta is well positioned into earnings next week. Bank of America reiterates Disney as buy Bank of America said the return of Bob Iger has been a boost to investor sentiment and that selling ESPN is not a slam dunk.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Allstate, Roblox and more
▼ + stars: | 2023-01-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

A Norwegian Gateway cruise ship leaves from the Manhattan port during sunset in New York City, United States on April 10, 2022. Vornado Realty Trust — Shares of the real estate investment trust shed 3.3% after cutting its quarterly dividend to 37.5 cents per share from 53 cents. Roblox — Roblox shares shed 6% following a downgrade to an underweight rating by analysts at Morgan Stanley. Alcoa — Shares of the aluminum company fell 4.6% on Thursday after the company announced its fourth quarter results. Alcoa's adjusted fourth quarter loss was 70 cents per share, narrower than the 81 cent loss expected, according to StreetAccount.

☆ Jim Cramer's top 10 things to watch in the market Thursday: Sell-off Day 2, P&G outlook raise
▼ + stars: | 2023-01-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Club holding Procter & Gamble (PG): earnings-per-share in fiscal second quarter of 2023 of $1.59 matches estimates; revenue of $20.77 billion slightly beats. Club holding Apple (AAPL) has been holding in at roughly 22x forward earnings estimates compared to the S & P 500's 17.5x multiple. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Global IT Spending Decreased in 2022
▼ + stars: | 2023-01-18 | by ( Angus Loten | ) www.wsj.com time to read: +4 min

Companies worldwide made deep cuts in enterprise technology spending last year, with tighter information-technology budgets likely to stretch well into the year ahead. Global IT spending contracted 0.2% in 2022, dropping to $4.38 trillion—a rare instance of corporations spending less on digital business tools than in the previous year, according to IT consulting and research firm Gartner Inc.Gartner had initially estimated that IT spending had increased 0.8% last year. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Spending on business software and IT services is expected to remain steady year-over-year, together accounting for more than $2.16 trillion in projected spending in 2023, Gartner said. Within IT services, spending on consulting services alone is projected to reach $264 billion, up 6.7% from 2022, Gartner said.

☆ Not a chance of a recession for IT spending this year, says ServiceNow's Bill McDermott
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot a chance of a recession for IT spending this year, says ServiceNow's Bill McDermottCNBC's Sara Eison talks with ServiceNow CEO Bill McDermott about spending in the IT sector and why he says his company is hiring right now.

☆ Here are analysts' favorite tech stocks for 2023
▼ + stars: | 2023-01-11 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

The tech sector was hit hard last year as worries about economic weakness and the Federal Reserve's aggressive rate hike path to tame inflation weighed on companies. In particular, rising interest rates hurt the present value of the future stream of earnings for tech stocks. The Technology Select Sector SPDR Fund (XLK), a fund that corresponds with the tech sector of the S & P 500, dropped 28% in 2022. Still, there are some bright spots in the sector where Wall Street analysts see growth ahead. The stock gained nearly 45% in 2022 and could rise another 43% this year, according to the consensus price target from Wall Street analysts.

☆ CIO 2023 Priorities: Speed and Agility
▼ + stars: | 2022-12-30 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

Technology executives in a recent CIO Journal end-of-year survey shared their priorities for 2023. In addition to delivering on a company’s technology goals, business technology executives have been navigating tricky waters over the past year as a result of rising interest rates, a tumultuous geopolitical landscape and stubborn inflation. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Alessandro Ventura, Unilever North America’s CIO and vice president of analytics and business services. “Nobody has a crystal ball,” Mr. Ventura said.

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